Cary, NC-based Brightly Software, formerly known as Dude Solutions, will be acquired by Zug, Switzerland-based Siemens Smart Infrastructure in a $1.575 billion deal, plus earn-out, Siemens announced Monday. The transaction is expected to close this year.
Brightly, owned by private equity firm Clearlake Capital since 2019, provides software-as-a-service solutions to clients in senior living, healthcare, education, manufacturing, government and clubs and associations. In senior living, products focus on maintenance, compliance, quality inspections, housekeeping and energy management.
This year, Siemens said, Brightly expects to earn revenues of approximately $180 million, with expected annual recurring revenue for 2022 at $160 million.
Siemens said that Brightly will benefit from Siemens’ global presence while Siemens leverages the software provider’s footprint in the United States. “Today’s acquisition bolsters our growth targets, especially for digital revenue and software as a service,” Siemens AG President and CEO Roland Busch said Monday in a statement.
Brightly has approximately 800 employees serving roughly 12,000 customers, primarily across the United States, Canada, the United Kingdom and Australia.
“With digital transformation and sustainability high on agendas, coupled with a challenging regulatory environment, the need for connected assets and real-time asset data is driving greater demand for intelligent asset management solutions across the globe,” Brightly CEO Kevin Kemmerer said in a statement. “We see an incredible opportunity to combine our knowledge and software with Siemens to accelerate the digitization and optimization of the built environment.”
Dude Solutions changed its name to Brightly in March after more than two decades in business. In 2020, the company acquired Assetic and Confirm, taking the company global, and in 2021, it added Energy Profiles Ltd. and Facility Health Inc.
